Used in pharmaceutical synthesis as a key intermediate for developing bioactive molecules, particularly in antiparasitic and antifungal agents. Its trifluoromethoxy group enhances metabolic stability and membrane permeability, making it valuable in drug design. Also employed in agrochemicals to improve the efficacy of crop protection agents due to its electron-withdrawing properties and resistance to degradation. Additionally, it serves as a building block in materials science for creating specialty polymers with improved thermal and oxidative stability.